IGD S.p.A., listed on the STAR Market of Borsa Italiana and operating in the large-scale real estate distribution sector, signed a preliminary agreement to purchase 15,000 square meters of property in Conegliano Veneto from I.C.I. INDUSTRIALE COMMERCIALE IMMOBILIARE SRL, a non-related party.

The total investment will be around € 6.4 million inclusive of the preliminary agreement signed today and of accessory charges, and is conditional to obtaining necessary permits and
authorizations.

The operation will be financed through IGD liquidity for 40% and the rest through debt. € 636 thousand will be paid upon signing of the preliminary contract (which took place on today’s date), while the remaining amount will be paid upon entering into the final contract.

The plot of land object of the agreement, which is adjacent to the land owned by IGD since October 2005 on which a shopping centre is to be built, will host big boxes (medium size selling surfaces).

The end of the project coincides with that of the previous investment and is scheduled for the end of 2008.

The purchase, which is part of the growth strategy presented to the financial community, is an integral part of the previous purchase and permits the creation of a strong commercial attractiveness area and increase the value of both investments. Such investment is in line with the company strategy to follow the new integrated offer shopping centre.

“This purchase,” commented Filippo-Maria Carbonari, IGD’s CEO, “confirms that the company is capable of creating value, in line with the business strategy, both through growth in size and through maximising the value of its real-estate portfolio.”